Despite revolutionary progress over a couple of decades, headway trends in the Fleet Management System market are still growing at radical levels. Following are a few challenges that these technological advancements have very efficiently resolved:
- More efficient logistics operations
- Meeting precisely transportation industry requirements with accurate predictions
- Going one-step beyond to cater to inventory, warehouse and stock management and actionable insights provision
- Exemplary fuel cost-cutting and reverse logistics handling
- Proactive environmental hazard management
- Revolutionary trends in alerts, notifications, SMS etc. pertaining to time-to-deliver schedules, weather updates etc.
- End-to-end logistics including handling returned to stock, distribution etc.
Following are the week’s top trending news from Ginga Fleets R&D News Desk, on innovative capabilities offered by the millennial Fleet Management System:
Sweeping innovations through Blockchain technology
The transport industry has well tapped the high potentials of emerging Blockchain technology, especially in areas pertaining to transaction entries which have so far been the fastest ever. Asset tracking and document management have been the other notable areas in which Blockchain technology has hugely contributed. Following aspects are the highlights pertaining to some ground-breaking transformations in today’s Fleet Management System:
- Cryptography tool for monitoring performance shippers and suppliers
- Smart Contracting tools for cost and time savings
- Supply chain and Logistics security advantages like never before, such as detection and nipping-off fraud in the bud, innovative logistics error handling, third-party certifications management and augmenting operational efficiencies
Innovative Logistics technology ecosystem building through the Internet of Things (IoT)
A system of the Internet, cloud-technology based linked devices such as gadgets and sensors in fleet vehicles, driver’s smartphone, etc connected to the Fleet Management System are the newest trends rendering exemplary ROIs to transport companies.
Vehicles fitted with smart gadgets transmit driver’s behavioural, speeding, idle-time, mapping and other types of video data to Fleet Managers. Apart from this, drivers are alerted by these devices on blind turnings, pedestrians and other potential road dangers. Following are the highlighted news for transport companies while wielding IoT capabilities:
- Advanced asset visibility during transportation, increasing road and logistics safety by over 80%
- Enhanced Alerts and geo-fencing technology for truck drivers pertaining to fuel performance, idling time, vehicle’s break status, speeding etc.
A whole new era of Artificial Intelligence (AI) integrated Fleet Management Software
The use of AI tools has tremendously transformed the way transport companies operate in terms of driver, passenger and asset safety, reduce traffic jams, a drastic reduction in accidents, environment-friendly/carbon emission reduced vehicles, increased ROI and cost-cutting. Following are the trending AI tools used by the transport industry:
- Knowledge-based Systems (KBS) for expert, agent-like reasoning tools
- Neural Network Systems (NNS) for innovating learning such as backpropagation
- Fuzzy Systems (FS)
- Genetic Algorithm (GA)
- Agent-Based Methods (ABM)
Use of Machine Learning and Big Data for predictive logistics analysis
Big Data and Machine Learning are being profoundly used by transport companies’ Fleet Management System, off late for route optimizations, streamline operations of vehicles with workshops, supply-chain visibility, logistics reporting, and analytics. Big Data advantages are:
- Monetary Forecasting
- Vehicle repair, maintenance and troubleshooting
- Driver behaviour
- Dynamic vehicle location tracking
- Interface based weather, traffic, monitoring and forecasting
- Vehicle Sensor data transmissions for enhanced vehicle routing and operations
- Physical Internet-based Intelligence (‘Pi’) for supply chain and logistics up-gradation
- Robot arms for logistics and warehouse loading/unloading
- Geo-fencing, Sensor and Forklift technologies for improved logistics and warehouse operations
The latest drivers of increasing transport industry ROIs
Apart from the trending latest technologies, the brand-new drivers of huge transportation ROIs from Fleet Management System are the following innovative analytics tools coupled with environment-friendly capabilities:
- Third-Party Logistics (3PL) tools for logistics KPI analytics, assessment, time-to-deliver assets and cost reduction
- ULD aided Business Intelligence for tracking and safety of shipment/cargo
- Logistics coupled with environment-friendly Materials Packaging System for load optimization, aiding go-green initiatives
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